What is online auction?
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Aditya992000
deepika2029
karan
Manoj
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- Aditya992000
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Join date : 2019-01-07
Re: What is online auction?
Tue Jan 08, 2019 3:50 pm
There are six different basic types of online auctions:
- Aditya992000
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Re: What is online auction?
Tue Jan 08, 2019 3:50 pm
English auctions
- Aditya992000
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Re: What is online auction?
Tue Jan 08, 2019 3:51 pm
In live terms, English auctions are where bids are announced by either an auctioneer or by the bidders and winners pay what they bid to receive the object. English
- Aditya992000
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Re: What is online auction?
Tue Jan 08, 2019 3:51 pm
Auctions are claimed to be the most common form of third-party on-line auction format used and is deemed to appear the most simplistic of all the forms.[4] The
- Aditya992000
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Re: What is online auction?
Tue Jan 08, 2019 3:51 pm
common operational method of the format is that it is an ascending bid auction in which bids are open for all to see. The winner is the highest bidder and the price is the
- Aditya992000
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Re: What is online auction?
Tue Jan 08, 2019 3:51 pm
highest bid.[4] The popularity of the English auction is due to the fact that it uses a mechanism that people find familiar and intuitive and therefore reduces transaction
- Aditya992000
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Re: What is online auction?
Tue Jan 08, 2019 3:51 pm
costs. It also transcends the boundaries of a traditional English auction where physical presence is required by the bidders, making it increasingly popular even though
- Aditya992000
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Re: What is online auction?
Tue Jan 08, 2019 3:52 pm
there is a susceptibility to various forms of cheating.[4]
- Aditya992000
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Re: What is online auction?
Tue Jan 08, 2019 3:52 pm
Dutch auctions
- Aditya992000
- Posts : 9257
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Re: What is online auction?
Tue Jan 08, 2019 3:52 pm
In live terms, English auctions are where bids are announced by either an auctioneer or by the bidders and winners pay what they bid to receive the object. English
- Aditya992000
- Posts : 9257
Join date : 2019-01-07
Re: What is online auction?
Tue Jan 08, 2019 3:52 pm
auctions are claimed to be the most common form of third-party on-line auction format used and is deemed to appear the most simplistic of all the forms.[4] The
- Aditya992000
- Posts : 9257
Join date : 2019-01-07
Re: What is online auction?
Tue Jan 08, 2019 3:52 pm
common operational method of the format is that it is an ascending bid auction in which bids are open for all to see. The winner is the highest bidder and the price is the
- Aditya992000
- Posts : 9257
Join date : 2019-01-07
Re: What is online auction?
Tue Jan 08, 2019 3:53 pm
highest bid.[4] The popularity of the English auction is due to the fact that it uses a mechanism that people find familiar and intuitive and therefore reduces transaction
- Aditya992000
- Posts : 9257
Join date : 2019-01-07
Re: What is online auction?
Tue Jan 08, 2019 3:54 pm
costs. It also transcends the boundaries of a traditional English auction where physical presence is required by the bidders, making it increasingly popular even thoug
- Aditya992000
- Posts : 9257
Join date : 2019-01-07
Re: What is online auction?
Tue Jan 08, 2019 3:55 pm
there is a susceptibility to various forms of cheating.[4]
- Aditya992000
- Posts : 9257
Join date : 2019-01-07
Re: What is online auction?
Tue Jan 08, 2019 3:55 pm
Dutch auctions
- Aditya992000
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Re: What is online auction?
Tue Jan 08, 2019 3:56 pm
Dutch auctions are the reverse of English auctions whereby the price begins high and is systematically lowered until a buyer accepts the price. Dutch auction services
- Aditya992000
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Re: What is online auction?
Tue Jan 08, 2019 3:56 pm
are usually misleading and the term 'Dutch' tends to have become common usage for the use of a multiunit auction in a single unit auction as opposed to how it is
- Aditya992000
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Re: What is online auction?
Tue Jan 08, 2019 3:56 pm
originally intended for that of a declining price auction. However, with actual on-line Dutch auctions where the price is descending, it was found that auctions have on
- Aditya992000
- Posts : 9257
Join date : 2019-01-07
Re: What is online auction?
Tue Jan 08, 2019 3:56 pm
originally intended for that of a declining price auction. However, with actual on-line Dutch auctions where the price is descending, it was found that auctions have on
- Aditya992000
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Join date : 2019-01-07
Re: What is online auction?
Tue Jan 08, 2019 3:57 pm
average a 30% higher ending price than first-price auctions with speculation pointing to bidder impatience or the effect of endogenous entry on the Dutch auction.
- Aditya992000
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Re: What is online auction?
Tue Jan 08, 2019 3:57 pm
First-price sealed-bid
- Aditya992000
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Re: What is online auction?
Tue Jan 08, 2019 3:57 pm
First-price sealed-bid auctions are when a single bid is made by all bidding parties and the single highest bidder wins, and pays what they bid. The main difference
- Aditya992000
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Re: What is online auction?
Tue Jan 08, 2019 3:57 pm
between this and English auctions is that bids are not openly viewable or announced as opposed to the competitive nature which is generated by public bids. From the
- Aditya992000
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Re: What is online auction?
Tue Jan 08, 2019 3:57 pm
game-theoretic point of view, the first-price sealed-bid auction is strategically equivalent to the Dutch auction; that is, in both auctions the players will be using the same
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